4719 Reading Road, Rosenberg, TX 77471
The Briarstone Apartments is a two and three story, garden-style, apartment community located in the Richmond/Rosenberg submarket of Fort Bend County,Texas. The asset was built in 1997. Residents enjoy ample amenities which include: mini-blinds, kitchen pantries, ceiling fans, laundry facilities, patios and balconies and walk-in closets.
Per Enriched Data, currently there are no leasing concessions.
Very nice looking asset in a strong rental growth market. Small asset, which may have condo conversion potential, especially for seniors.
The Richmond/Rosenberg area has exhibited great growth over the past few years. The property appears to maintain good occupancy.
There is currently a 5% prepayment penalty on the loan that decreases 1% every year unitl 2022. It is anticipated that a buyer will want to put on a new loan.
The Broker feels that adding granite countertops and new cabinet fronts and pulls could enhance the rents.
Hashir Saleem is a licensed Texas Real Estate Broker involved in real estate marketing services for institutional and individual investors. Hashir holds a B.S. in Industrial Engineering from the University of Houston and an MBA from Rice University's Jones Graduate School of Business.